♪ >> and mr. bowles himself said no serious discussions of spending cuts so far. there is a real danger of going off the fiscal cliff. >> we are not going to kick the can down the road. we're going to finalize this this year. this is no time for delay. the american people want us to avoid the fiscal cliff with a balanced approach. liz: he said, he said. good afternoon, everybody. i am liz claman, "countdown to the closing bell" starts right now. you heard it from the horses mouth. and it has gyrated the market. john boehner said no substantial progress on fiscal cliff debt deal while harry reid insists we democrats are on track and will finalize it this year. even chuck schumer weighed in

saying progress is being made on the hill and the next is a taste oversensitive. take a look at the intraday, you can see how it was jerked around today. right around 11:30 a.m., speaker john maye -- john boehner spoke. the buyers poured in, the short time later chuck schumer came in. now we are trading near the highs of the day. the dow jones dust they stop 77 points, 45 to the upside. all 10 s. and p. sectors are jumping with technologies leading the way. research in motion a big winner. can you believe the stock is near $12 per share. rim was at $6 per share, but positive comments out of goldman sachs fueling the game. apple in the green continuing

the postelection resurgence. apple was in bear market correction level just a few weeks ago, but right now jumping about 1%. disappointing november sales numbers. costs dropping 6%, tiffany got a markdown, earnings missed street estimates. and then there is aeropostale coming in way below forecasts. what is a trader to do beside watching a nuisance headlines coming out of washington? traders at the new york stock exchange, what a day today. some better games at the moment but again a perfect example of how washington is holding the market. >> you talk about how sensitive

the market is right now. looking at washington, putting earnings season besides us. all coming down to the last 32 days of the year and what is its going to happen in washington. anytime we hear anybody making any comments, it is going to move the market. like you saw on that chart, who is saying what and when, clearly that shows it is all about getting in front of the camera, getting out in front of the public making sure the public understands where everybody stands. they will stretch this one out as long as they can, the drummer will unfold, we will watch the miniseries play out on live tv. it will come to the same path and figure it out before the end of the year. tracy: we should have our viewers name the intraday chart.

i cannot believe this, 32 days, we have to live with this war true fundamentals, make your picks. >> this is an unusual market. i thought they for sure flush away harder than they did leaving me to think that the market is believing something is coming. each drop a little bit lower than the previous one leading me to believe the market believes something is coming. keep the position. if you want to add to a decision, wait for a break. liz: that is a calm way of looking at it in a disjointed markets. oil up for the first time in a couple of sessions, what do you make of that in every headline i read about the research says the market is reassured there will

be a deal so people will use more energy. not when these guys are saying yes no, yes now. >> if you want to look at this market, look at the world. reaching a 17 month high today. china of course with the multi-year low. globally around the country think okay, despite what happens in the u.s. liz: who made that? >> europe 600. liz: some of the biggest names in europe. it is an interesting point. >> i look at copper, silver, look at the euro bought 130, we saw weakness in the dollar and the equity market right or wrong proceeds weakness in the dollar. if you want to look at oil today and next week we have some real

concerns, adp on manufacturing, a chance for that to come in on the cycle of the market will pull back it will come in the middle of next week off until december 12 and the poetry election, is the question of strength and weakness looking at the economic calendar as well. liz: we will talk about the japanese parliamentary election. thanks to all of you for joining us on the floor. talk about headlines missed. the market practically hugging every word that comes out of washington whether it is president obama making comments, speaker john boehner, harry reid, the market tanks and any signs of disagreement. don't fret, next guest is here to tell you about how to behave in this atmosphere in a way he believes will make you money.

joining me now in a fox business should listen. what are you teaching your employees, your traders, what are you telling them to do right now? >> you have to be communicating with your clients, you cannot trade this as an individual trader. you have to be prepared there is a decline, what will happen if congress recesses without a bridge to get us over the fiscal cliff the market will go down precipitously perhaps 1000 points and it will be the markets way to say let's come back, you made the mistake like they did four years ago. tracy: the market dropped 1000 points or what have you, get in? >> to be a generational buying opportunity. this is based on congressional

ineptitude. the fact is the economy has a tail wind, the market is fundamentally attracted, the valuations are reasonable. you have earnings growth. if we can bridge the fiscal cliff and get a comprehensive tax reform and entitlement reform, you would see a market significantly higher. tracy: we have had some earnings that look positively dismal. it is a very big pricey discretionary product, but they miss earnings, that is a real fundamental, isn't it? speak we still have the s&p profit growth that is positive. you cannot continue to have double-digit earnings growth as he diyou did for 10 consecutive quarters. if we get through this cliff in the back half of 13, gdp growth

rate accelerates as we anticipate and profit growth as well. tracy: if your liking big multinationals, you don't like europe yet you like the multinationals. help me wrap my mind around that. >> u.s. large caps are cheap, most of those in mall to nationals. but they don't deserve to be cheap. it is going to be a while before you get any sustained growth. you can't make that case the multinationals. it is relatively speaking a small part. the big part of the global exposure is the emerging markets. tracy: you obviously are very bullish equity sky. you have to believe it watching billions going to treasury bonds, probably in there for

safety. >> they should not be in there with any return expectations because they're destined to be disappointed because it is a question of when interest rates rise and those investors are going to be hurt. would you like a 10-year treasury of 1.65% or a ten-year mcdonald's bond at 1.8%? how about the stock at 3.5%. you have growth and appreciation. liz: he would not be buying mcdonald's at a high. hank has names coming up that fit within the parameters of what he is talking about. he will talk about what stocks you should have on your holiday wish list in those moments for when the cliff drops. the closing bell ringing in 50 minutes. opening malls.

and competition is heating up so how will they keep its? a fox business exclusive with the only pure play out with mall operator, what he has to say about holiday expectations. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office.

liz: he wanted to show you what is going on with pandora today. internet radio station up sharply to the tune of 6%. you can see it jumped about 9:30 a.m., still 5.66% gain not bad at all making in our power mover of the aisle were. unwinding of a bearish bets ahead of earnings next weekend, 58% of pandora is being sure did. people trying to bet the stock will go down but the other catalyst to talk when i'm washington regarding internet radio fairness act. a good chunk of the members of the house judiciary committee

about 60% of them are in favor of it. or just have not made up their minds yet. sometime a fe after between mard june. pandora underperforming the greater part of the market, the stock down 12% while the s&p is up rubble digits. u.s. retailers with weak november sales numbers despite the flurry of shopping around thanksgiving. details from nicole petallides. nicole: we saw the retailers doing well, but a lot of members are pulling back. some names that were disappointing, target, macy's, the cap missing. a couple of them, macy's, the parent of bloomingdale's. some of these really did miss. some of the retailers are nothing hurricane sandy, shut

down so many retailers as well. macy's down 4%, and the ceo looking at some of the other names like the gap in particul particular. overall not really good. back to you. liz: holiday shopping season in full swing. savvy shoppers may be looking to outlet malls which are always offering deals. ceo, the only pure play out with mall operator in a fox business. thank you for joining us from d.c. liz: how was black friday for you? >> better than the year before, record black friday for us but

you should also realize some about 60% started offering great values on the best brand and designer names as early as veteran fails. another 20% offered breaking price the week before black friday. we had a great black friday week. liz: everybody is pushing it further and further back into the summer because they want to get into that. looking at all that is happening, cyber monday is changing. giving an indication of a key three weeks before christmas. >> the key three weeks before christmas will be much better than last year and better than a lot of people expect. a lot of pent-up demand for

consumer products and the best values every day. hurricane sandy devastated a lot of families in our hearts go out to them. a lot are coming back, during the holiday shopping in november and hopefully into december. liz: i actually went and i actually bought stuff. is this old stuff, and the breaking news comes when they are expanding at a pretty decent bid read closer to the d.c. area, is it real demand for a oa land grab? >> because of the strength of the balance sheet, it allows us

to expand rapidly when times are more difficult and other people can't get financing. it is a world-class development, only 8 miles from the washington monument. the closest retail that we can develop to the washington, d.c. we expect to get as many as the 15 million coming to washington and another 50 million or so coming today to visit the gaylord hotel, the many restaurants and attractions already at national harbor. liz: people are driving to see the tourist attractions and we stopped to see you. a joint venture with simon properties. a competitor in certain realms. why are you doing that? >> we have two sites were announced after the close.

these are dynamic markets, the biggest markets in the country that we both determined where underserved by output shopping. a very successful partnership in the houston, texas, market on their way to deal with them. we decided to expand the partnership entities two dynamic markets. liz: what is the attraction for a retailer like kate spade or ralph lauren to have sort of an outlet mall relationship? what is the benefit for them? it has to be better than getting rid of excess inventory. >> 15 years ago the major manufacturers, some that you mentioned, major designer names, it is a distribution channel not just a clearance vehicle. as such they get the best of us and assortment, earning 40 to

50% off. consumers are smart and know they don't have to wait until the major holiday season to get a sale, they get one every day. most of our tenant partners tell us the outlet division is either the most profitable or one of the most profitable business units. liz: i see them jam packed and the stuff looks the same especially at ralph lauren. some don't necessarily own your stock, but they do own a coach or tiffany's or ralph lauren, how does it impact your investor if the companies they own in the stock go out. speakers will be tough to see how the market will react, the financing just mentioned, we

have long-standing relationships with nasa output divisions have grown, the value of their stock has also grown and i might say the value has grown. liz: congratulations on the groundbreaking. we appreciate it. record year for black friday. hard to believe that capital even needed a lifeline. now the subject of an intense it anymore because it probably cannot stand on its own. charlie gasparino, coming up. you need to stick around. this is america.

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liz: charlie gasparino has breaking news on the bidding war for knight capital. charlie: they are meeting, from what i understand, right now. within the last minute to discuss the periods. here is what is really interesting. officials there are prepared to sweeten their offers, if they need to. geico has half stock, half cash. the other has not publicly announced their bid. believe me, i have. they are not budging. it is somewhere north of three dollars, all cash. they know they may have to sleep in it. they do not want it out there

totally. another part of the game is that the board of knight capital will come back and answer. both, virtu and gecko, looking to receive some sort of answer about the bid. maybe the process going forward. the due diligence process going forward. after the board finishes talking about thinkers today, they are waiting on that. there could be some announcement after the market close today or tomorrow. the process has been clarified. let's stay tuned. if not today, we will get something tomorrow. i am putting on my thinking cap, as small as it is, i think we will find out what they will bid. liz: a lower virtu bid or a higher one from getco?

charlie: that is a good question. by not answering this question -- it is tough to answer that question. getco bid is based on if they stock and cash. depending on how the company performs. it is stock. what happens is, you have to figure out what getco's earnings are as part of that, which we do not know. it is a private company. we do know knight's earnings. so you take 20% of their expenses out, that redounds back to the company. it could really support their bidding. do you see what i am saying qwest it is really hard to answer this question.

virtu would come back and say getco does not have good earnings. by the way, that is out there. it is not exactly a world class company. just yet, anyway. we are giving you all cash. i will tell you one thing, if it is 325 cash, it is pretty dam good. remember, night is controlled by the shareholders that bailed it out with convertible stock. liz: charlie, thank you. very much. charlie: you did not have me read off the teleprompter. liz: why do you think i am wearing a suit?

charlie: by the way, you should be running yahoo!. liz: the dow is up 24 points. stay tuned. much more ahead. ♪ before copd...

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>> im robert gray with your fox business brief. stocks hang onto modest gains. right now, the dow is up 30 points. modest gains across the board. a lackluster start for the holiday season for pcs. windows powered pcs slipped 21%

last month versus the same time a year ago. microsoft has said it has sold 40 million licenses of windows eight. shares of microsoft, intel, sliding across with microsoft on the news. andrew cuomo has ordered insurance companies to speed up the claims process for the hundreds of thousands of residents who suffered damages from super storm sandy. report cards on the performance of insurers will be posted on the website. that makes the company more accountable for the response time. now we will continue our "countdown to the closing bell" with liz claman. ♪ liz: while we do have read on

the screen, the high has been 77 points. maybe we should call it mouth of the day. jumping around. let's go to facebook and nicole petallides at the new york stock exchange. nicole: if you have not been watching facebook closely, it has been moving higher. take a look at it now. we talked about the $38 ipo. you remember when it went down, down, down. below $20. the latest lockup expiration, on november 14, you did not really see the selling. it has moved to the highest level now that we have seen since it first went public back in july. here it is at 27 and change. it is getting close to the $30.

and a lot of the analysts have been coming out and talking about ad revenue, oval ad revenue, in particular. it is very interesting. we heard mark zuckerberg talking about the whole outlook. you never know. liz: how anyone could help these people out. they had a very nightmare ipo. they built to a billion people who use this thing. they are not stupid. there. thank you. house speaker banner expressed his feelings on the fiscal cliff. we are talking budgets and essential programs. how is the state of utah handling all of this wow it is day four. we welcome utah governor in a fox business exclusive. welcome, governor.

we begin by asking all of our governors, what are you doing? what action are you taking in advance? >> well, we have done what is proper and prudent. we live within our means. we do not have unnecessary debt. we have a rainy day surplus funds. that helps insulate us against some of the ups and downs of the market place nationally. our unemployment rate has dropped to 5.2. we are creating jobs. we are growing wealth in the private sector. our personal income is going up also. we are doing things that they ought to be doing in washington, d.c. liz: in the next three weeks, as you have meetings with your

staff, you tell me, we talked about, for example, they have to prepare two separate budgets. how are you expected to be affected if, for example, 30% of your budget comes from federal funding, what if that goes away? >> 80% of that does not impact us at all in the state of utah. but, there is some impact. we are having to prepare to budgets. as we put together our money, our state budget about 5.7- $5.8 billion, we anticipate about $400 million of new growth revenue. that is healthy for the state of utah. if they do not come up with some sort of solution, probably about 200 of that will not happen next

year. if they resolve the fiscal cliff and the economy remains growing, although kind of sluggish -- here is another scenario, we have a loss of revenue from growth money. we are in a situation where we will prepare for the best, hope for the best, but anticipate a negative growth in the economy. liz: there is actually what we are calling the twinkie of fact. it is a negative bidder twinkie affect. there is a hostess plant where you live. how many jobs will that drop-off, as far as employment is concerned? >> a few hundred. clearly, any kind of negative constriction of the marketplace impacts us. even if it is a negative state. clearly, here at home, the good news for us is we are going at a 3.5% rate now economically. we are creating jobs. we have a healthy economy and a

great quality of life which is attracting people and businesses to utah. we do not have control over what happens in washington, d.c. we are being very cautious as we go forward waiting to see resolution, out of washington, d.c. liz: i saw a quote of something you said. i thought it was perfect for washington. compromise should not be a dirty word. why is it that both sides are acting if they give in on anything it is a dirty word and they will somehow not be reelected. the fact is, americans want a deal. they understand, i think, that some of it has to come from the revenue side and some has to come from cuts in spending? >> i think so. it is kind of like high-stakes poker. it is a republic.

we ought to represent the people. they want us to find solutions. speaking as a governor of the state, we have to get things done. unfortunately, congress does not. they can sit and throw rocks at each other and leave it for another day and kick the can down the road. we would hope that congress would watch the governors. listen to the state. i think we can help them find compromise. heaven knows, our founding fathers rated the most evil document in the history of the world, our constitution. liz: amen. that is very true. he knows, folks. he ran a small business himself. it is great to have you on the program. hope you have a great ski season out in utah. >> thank you. liz: we will finish up when we speak with nebraska governor on why he chose to go with a federal run health exchange and how this will impact small

businesses in his state and what happens if we go over the fiscal cliff. how he is faring. do not miss that interview tomorrow on "countdown to the closing bell." we will be right back. ♪ now you don'have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile deposits. now depositing a check is as easy as taking a picture. free online bill payments. a highly acclaimed credit card with 2% cash back into ur fidelity account. open a fidely cash management account today and discover another reason serious investors are choosing fidelity. look this isn't my first christmas. these deals all seem great at thtime... but later, not so much. this isn't that kind of deal. [ male announcer ] break from the holiday stress. save on ground shipping atedex office.

liz: on this wild and crazy day, let's get to sandra smith. sandra: i want to point out the fact that we are back above some major levels. s&p above 1400. each of the major averages rising above their 200 day moving day averages. a couple stocks i wanted to point out. lowes hitting an all-time high. we got that better than expected news ut from the national

association about pending home sales up about 5% better than expected. lowes all-time high. it has dipped negative on the session. sixty-four dollars a share. a huge run-up in the home improvement retailer stocks. the home-building sector not really getting a boost from not housing sector. the others are posing a slight gain. i want to point out that commodities have seen some volatile trading. speaker john boehner did lead to a selloff earlier in the session. oil rallied back. buying the dips and those commodities markets. definitely a bit in the commodity markets today. liz: looks like it. not a bad day at all. hank smith is back with me

talking about why he thinks it is time to buy the blue box. tiffany just could not muster it. that is not the only name you are coming to us with. you are saying by the cliff. where we are too close to the edge, 1000 points or so. by and on that. let's begin with tiffany. >> today was obviously a mess. look at today as a buying opportunity. you have an iconic brand that is building out globally and this is an emerging marketplace. an aspirational class and emerging class. we are also creating more and more wealthy people globally. liz: does it worry you that

china is stumbling a bit? are people trying to really beat it down. that is really hard for a retail investor to control that. >> tiffany is not a steady eddie like coca-cola. the key is the long-term outlook looks good for this company. take advantage of these types of selloffs. the economic data is starting to turn and look better here. i think china will be a good toy for tiffany maybe not near tar. liz: it has shown that revenues are shrinking in the major parts of its business. that is another blue stock. why, ibm at this point. >> ibm was a first mover in terms of shifting from hardware to services and software. with the acquisition a number of

years ago, and then the rollup of many software companies, 80% of revenues are in that area. this is a well managed company that is on target. in fact, ahead of target. at that level, it is attractively priced today. this pullback, we think, too, is a good opportunity. liz: you are the second person this week to pick qualcomm. everyone is going into smart phones. mobile, mobile, mobile. >> behind the scenes there is qualcomm. they are in all the smart phones. they are in all the tablets. this is a company that is growing. liz: having trouble breaking out of the trading range. >> i wish they would give a little bit that apple or google

has. in the meantime, you can pick up a bargain. we will put his stocks picks on the facebook / live claimant page. happy holidays. closing bell ringing in six minutes. shares of one company falling off the shelf after it reported a mixed bag for the second quarter results. stay tuned. you may own it. ♪ [ male announcer ] this is steve.

he loves risk. but whether he's climbing est, scuba diving the great barrier reef with sharks, or jumping into the mke he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being rdy, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. all in hardcover books is

continuing. just look at a barnes and noble, falling 11%, nearly 12%. quarterly results were worse than expected. enook the is not keeping up with demand to the kindle, the one in my neighborhood just closed down. that is depressing. i like reading the book itself. am i the only one? do you still read our book? dave: i have trouble with the reflection and glare on the e readers as well. the markets are doing pretty well. there was the debt earlier today when there was all the pessimistic ruling from inside the beltway the deal was farther away than ever and the talk began to moderate and the market is doing okay. let's go to nicole petallides at the stock exchange because for all the talk in a bell weather was some talk from investors looking at rim that we are not only good for that particular stock as a jump over a 4% but good for the market. >> when you look and research in motion lot of people wrote the moth saying blackberry is not so

great, and echoing what other people assaying. there are hopes for the blackberry and the buy rating and a $19 price target in january. dave: that is a three month chart. look at that, almost straight up. liz: if you want another contrast rim has been rallying and apple falling over the last few months but not a bad day. nicole: apple actually over the last three months is down 13%, down 13% whereas research in motion is up 16% so you really see the divergence between the two but apple is on its way back. dave: one of the biggest sectors was energy and oil taken off like gangbusters. look at the economic data so positive as opposed to the pessimism we have been hearing. a lot of energy starts. >> nicole: we saw oil over